3 minute read
Burnt out? you’re not alone
HESTA
Burn out significantly affected frontline workers during COVID lockdown periods, including those working in health and community services.
While the days of lockdowns may be behind us, the impact of COVID has inspired many of us to examine our priorities and make a change to our work/life balance. That might look like taking more time off, or switching career directions completely.
Taking time off
If you’re thinking of having a break and taking some time off paid work, it’s a good idea to check three things related to your super first.
1. REDUCE YOUR EXPENSES
Working out where you spend your money isn’t always fun, but it is worthwhile. With cost-of-living pressures continuing to rise, managing your money can help you stay on top of your spending and bills. It can also help you build a more financially secure future. Have a look through your bank statements and categorise your expenses to see where you could cut down — you might be surprised!
2. UNDERSTAND HOW TIME OFF OR REDUCED HOURS MAY IMPACT YOUR RETIREMENT
Your employer super contributions are determined by your ordinary time earnings. If you reduce the hours you’re working or take time off, this is naturally going to reduce the amount of super you receive from your employer — and the amount you have at retirement.
3. CHECK IF YOU’RE COVERED FOR NOT BEING ABLE TO WORK
It’s worth checking if your income protection insurance will cover you for this time off. If you suddenly become sick or injured while you’re not working, you want to make sure you’re still covered.
Changing career directions
No matter where your career takes you, you can take your HESTA super with you.
If you’ve started a new job – or you’re about to — staying with HESTA is simple. You just need to let your employer know that you’d like your super paid into your HESTA account.
Simply complete the Choice of super fund request form and give it to your employer.
Staying put
Switching careers or taking a break from work isn’t possible for everyone. For those of us who are staying put and still experiencing burnout, you’re not alone.
HESTA has partnered with Ask Izzy, a not-for-profit social enterprise that helps people access support services.
If you need some help with your mental health, the Ask Izzy website can connect you with nearby counselling services across Australia. You can also search for over 400,000 other services close to you, including financial assistance, meals, shelter, family violence support, and much more.
Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL No. 235249, Trustee of HESTA. The information shown is general information only. It does not take into account your objectives, financial situation or specific needs so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. For more information, contact us or visit hesta.com.au/pds for a copy of a Product Disclosure Statement which should be considered when making a decision about the HESTA products on this website and to consider the relevant risks. The target market determination for HESTA products can be found at hesta.com.au/tmd.